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Week two gas officially began, and with that comes new opportunities to grow my knowledge in the insurance world. I’m new to the industry so my knowledge is seriously lacking. One of the first things I learned when I got here is that there are different plans for Medicare. I simply thought that Medicare was an all-inclusive package deal for senior citizens. I thought it was sort of like Canada’s free health care system. Oh, boy was I wrong.

I’ve learned that just like any other industry, Insurance is really competitive and there are hundreds if not thousands of companies that are competing for you. Companies offer thousands of different products in order to help their company gain popularity/

How can this affect me?

There are a few ways this can positively and negatively affect you. The first being positive because there are so many companies and so many different products that mean you have the best opportunity to get the best price for what you are looking for. However, the downside is due to you getting cheap pricing the company many skimps on some parts of the plan, causing issues further down the line. Finding a specialist with the experience required can be difficult and pricing can always fluctuate based on the experts in your network. That’s where Empower can really help, we can answer questions, and even help guide you through your decision-making process.

Why do I need insurance?

Now that’s all great that I can get pretty good deals on plans, but why do I even need insurance? Before I started working at Empower I always thought that insurance was a good thing to have if you could afford it. Then when I started working at Empower I saw the importance of insurance. Turns out that being covered is just one of those things that you don’t know you need it until you do. Let’s imagine that you have to go to the hospital and need surgery But it’s going to cost $10-thousend. But your insurance will cover it so long as you meet your deductible of $500. Because you’re covered, you saved more than $9-thousend. Without that insurance, you would be out 20x that.

Insurance is complicated, plain and simple. But it’s not impossible to learn, and its something that will take time and energy to learn. Slowly but surely I am getting a better grasp on the insurance industry as a whole and working towards making a positive impact.

Since insurance is oftentimes overwhelmingly confusing, we want to shed light on this industry by answering YOUR questions so submit a comment below!